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Gold rises amid global concern over Trump's threat of fees
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NEW YORK (Reuters) - Gold prices rose on Monday after US President Donald Trump threatened to raise tariffs on Chinese goods in an escalation of trade tensions between the United States and China, prompting investors to take risks and boost safe assets.
Spot gold rose 0.3 percent to $ 1282.51 an ounce by 0557 GMT.
Gold futures in US futures rose 0.2 percent to $ 1284 an ounce.
Trump announced on Sunday that it would increase tariffs on Chinese goods worth 200 billion dollars this week. He also said he would target another $ 325 billion worth of Chinese goods with a 25 percent "soon" fee.
The comments undermined global equities and oil prices, while the yen, which is considered a yellow metal, has been boosted by safe havens in times of geopolitical or global economic turmoil.
A report in the Wall Street Journal said China was now considering canceling trade negotiations with the United States after the Trump threat.
Among other precious metals, silver fell 0.5 percent to $ 14.85 an ounce, while platinum fell 1.5 percent to $ 856 an ounce.
Palladium fell 1.1 percent to $ 1,356.51 an ounce.
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